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BlockBeats News, December 15 — According to market analyst Gabriel Rubin, the strict control exercised by U.S. Treasury Secretary Bessent over the selection process for the next Federal Reserve Chair means that, regardless of who is appointed, the Treasury Secretary will effectively control the Federal Reserve. According to government statements, Bessent has set clear selection criteria for Powell’s successor: any regulatory agenda must align with the White House; interest rates should be significantly lowered, as concerns about tariff-induced inflation are exaggerated; and the issuance and management of government debt should be handled by the Treasury Department, not the Federal Reserve. Gabriel Rubin believes that the United States will inevitably face another economic or financial crisis. A Federal Reserve with compromised independence means that, when a crisis arises, more power will be concentrated in the hands of the government. The central bank needs public trust and recognition to control inflation and ensure healthy credit. These are things that the Treasury Department under the Trump administration cannot provide.

BlockBeats News, December 15, according to the Wall Street Journal, JPMorgan has announced that it will launch its first tokenized money market fund on Ethereum, further expanding into the cryptocurrency sector. It is reported that JPMorgan will use $100 million of internal capital to launch the seed fund.